Avista Capital Partners has announced its acquisition of Taconic Biosciences from H.I.G. Capital.
Taconic, based in Rensselaer, N.Y., is a provider of genetically engineered research models and related services. Founded in 1952, the company specializes in murine models for use in drug discovery research and non-clinical safety testing.
Avista, based in New York, makes control buyout investments in middle market healthcare companies. Founded in 2005, the firm focuses on the following healthcare subsectors: pharmaceuticals, medical devices, outsourced pharmaceutical services, distribution and consumer-driven healthcare.
H.I.G. Capital, based in Miami, pursues a wide range of investments in healthcare and many other industries. Founded in 1993, the firm has flexibility on investment size, including interest in pre-EBITDA businesses. Within healthcare, the firm targets companies in the provider services, hospital/major facilities and life sciences/pharmaceutical industries.
Terms of the transaction were not disclosed.